Lodha Developers acquires development rights for Malabar Hill property

Lodha Developers, India’s second-largest listed real estate developer, has acquired development rights for a property in Mumbai at a consideration amount of about Rs 106.12 crore. 

According to the deal-related documents accessed via Propstack, a real estate data analytics firm, the agreement to sell (development rights) has been signed by the company with the seller, Sorabji Kanga Charity Trust (landowner), for a property located in Malabar Hill, Mumbai. 

The consideration also includes 5,017 square metres of real estate regulatory authority (Rera) carpet area, 150 car parking spaces, and a 42.5 per cent trust share in the development. 

The market value of the property is approximately Rs 621.71 crore, according to the deal registration document. Lodha has paid Rs 37.42 crore in stamp duty for the transaction that was executed on January 7, 2026. 

 

The total land area of the property is 17,403.20 square metres, and it has a chawl, Palacimo Co-operative Housing Society, and six bungalows. Lodha will redevelop the land, except for the society, according to the agreement. 

The permissible floor space index (FSI) for the land is 4.0. Following the Development Control and Promotion Regulation (DCPR) 2034 norms, Lodha will also hand over 38,990.48 square metres of area to the Maharashtra Housing and Area Development Authority (Mhada).

 

The company declined to comment on the development.

 

Additionally, Malabar Hill is a premium real estate micro-market in Mumbai. In 2025, the area recorded 41 new sale transactions with a gross sales value of Rs 1,038 crore, according to Square Yards Data Intelligence. As of the fourth quarter of 2025 (Q4 2025), the average property rate in the area stood at Rs 137,500 per square foot, up from Rs 98,566 per square foot in the same quarter last year.

 

Lodha recently signed a joint development agreement with Sahana Properties and Resorts and Sahana Builders and Developers (landowners) to develop land in Mumbai for a consideration of Rs 364.80 crore. The company will develop multiple land parcels spanning 41,526.07 square metres situated in the Parel-Sewree division in Mumbai under that deal.